Trafigura will help Venezuela's Minerven develop a responsible gold sourcing program, according to Reuters
Swiss commodities trading company Trafigura will work with Venezuelan state-owned miner Minerven to develop a responsible gold sourcing program as part of its prepayment agreement to buy dorado gold, a semi-pure alloy, the company reported. By Reuters The reform of the Venezuelan gold sector backed by Washington represents the second major economic initiative driven by interim President Delcy Rodríguez's government, who took office after President Nicolás Maduro's departure in January and has promoted extensive reform of the oil sector aimed at attracting foreign investment.
TL;DR
- Trafigura will work with Venezuela's Minerven on a responsible gold sourcing program.
- This is part of a prepayment agreement for the purchase of semi-pure alloy gold (dorado gold).
- The initiative aims to improve standards in official Venezuelan mining for international market acceptance.
- The U.S. has licensed Minerven's gold to be shipped to the U.S. for refining.
- The agreement stipulates that only gold from Minerven operations will be purchased.
- This aims to avoid external suppliers and material from the Orinoco Mining Arc, where criminal gangs operate.
- Minerven is expected to supply 650 kg to 1 metric ton of dorado gold to Trafigura.
- Venezuela's official gold production increased by 37% to 9.5 tons in 2025.